JAB offers to boost stake in Coty

JAB, which is already the largest shareholder of the company with a 40 percent stake, said it would launch a tender offer to buy 150 million shares for $11.65 per share in cash.

The offer represents a premium of 20.6 percent, based on the stock’s closing price on Monday. The stock was trading at $11.30 before the opening bell on Tuesday. (Reporting by Aishwarya Venugopal in Bengaluru Editing by Saumyadeb Chakrabarty)